Fisher Asset Management LLC Has $35.24 Million Stock Holdings in Webster Financial Co. (NYSE:WBS)

Fisher Asset Management LLC trimmed its position in Webster Financial Co. (NYSE:WBS) by 20.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 694,263 shares of the financial services provider’s stock after selling 175,546 shares during the period. Fisher Asset Management LLC’s holdings in Webster Financial were worth $35,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of Webster Financial in the 4th quarter valued at about $127,000. Charles Schwab Investment Management Inc. grew its holdings in Webster Financial by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,976 shares of the financial services provider’s stock worth $51,556,000 after acquiring an additional 21,026 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Webster Financial by 98.1% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 149,258 shares of the financial services provider’s stock valued at $7,576,000 after acquiring an additional 73,924 shares during the last quarter. FDx Advisors Inc. lifted its stake in shares of Webster Financial by 7.6% in the 3rd quarter. FDx Advisors Inc. now owns 5,753 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 408 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Webster Financial by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 319,379 shares of the financial services provider’s stock worth $12,874,000 after purchasing an additional 117,437 shares during the last quarter. 85.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on WBS shares. Bank of America initiated coverage on Webster Financial in a research note on Thursday, January 11th. They issued a “buy” rating and a $60.00 target price on the stock. Morgan Stanley lifted their price objective on shares of Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada reduced their target price on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.23.

Webster Financial Stock Performance

Shares of Webster Financial stock opened at $44.92 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.40 and a beta of 1.35. Webster Financial Co. has a one year low of $31.03 and a one year high of $53.39. The stock’s 50-day moving average is $47.58 and its 200-day moving average is $46.74.

Webster Financial (NYSE:WBS) last released its earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $667.10 million during the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a net margin of 21.09% and a return on equity of 12.55%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. Equities analysts predict that Webster Financial Co. will post 5.62 earnings per share for the current fiscal year.

Webster Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is currently 32.79%.

Insider Buying and Selling at Webster Financial

In other news, insider Daniel Bley sold 2,280 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $44.80, for a total transaction of $102,144.00. Following the completion of the transaction, the insider now directly owns 28,693 shares in the company, valued at approximately $1,285,446.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.